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ASX to fall as Labor pushes for aged care worker pay rise

·2-min read
ASX and aged care
ASX is poised to slip as Labor unveils its proposal for an aged care worker pay rise. (Source: Getty)

ASX: The local market is set to slide ahead of a big week of reporting season.

Wall Street: The S&P 500 ended lower on Friday, weighed down by Tesla and other technology-related stocks after a solid jobs report torpedoed recent optimism that the Federal Reserve might let up its aggressive campaign to rein in decades-high inflation.

Disability jobs: Social Services Minister Amanda Rishworth has released a long-awaited report on reforming Australia's Disability Employment Services system in a bid to boost jobs outcomes for disabled people.

The Department of Social Services is currently in the process of designing a new model of Disability Employment Services, which seeks to assist disabled people into jobs, ahead of the current program's end in June 2023.

Pay rise: Details of the Federal Government's proposal for an aged care wage rise are set to be revealed in a submission to the fair work umpire.

A significant and meaningful pay rise for workers in the sector would be advocated for by the Government in today’s submission, Aged Care Minister Anika Wells said.

Teacher shortage: Tackling Australia's teacher shortage will be high on the agenda when federal and state education ministers meet in the nation's capital.

Some of the barriers facing potential teachers included the status of the profession, workloads and pay rates, Universities Australia said.

Climate change: The Federal Government is "very, very" confident its climate bill - enshrining a 43 per cent emissions reduction target - will pass the Senate.

The bill to lock in that target - based on 2005 levels - by 2030, on the way to net zero emissions by 2050, passed the lower house on Thursday by 89 votes to 55, with the support of the Greens and crossbench independent MPs.

It is headed to the Senate where it will first go to a committee inquiry, which will hear evidence on the proposal's impacts.

Electric vehicles: Australia could help drivers save billions of dollars by matching fuel-efficiency rules imposed by other countries on cars and light trucks, according to a new report.

The Australia Institute report, released today, said stronger standards for new vehicles would cut greenhouse gas emissions and reduce the cost at the bowser.

Trade: The United Kingdom will boost trade ties in Australia and the Pacific region by re-establishing a diplomatic post on the west coast after a 20-year absence.

The British High Commission in Canberra said the diplomatic presence in Western Australia would accelerate trade and investment as the UK doubled the number of high commissions across the region.

-With AAP

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